Entertainment One and Nu Image are teaming up to develop a potential TV version of the action franchise. But contrary to reports that Stallone could potentially reprise his famous role as Rambo, the actor's press rep tells THR it won't happen. "[Stallone] himself will not portray the character in the series," the rep explains.

The first "Rambo" film, "First Blood," came out in 1982, and was followed by three sequels. The last one, "Rambo IV," was a modest hit in 2008. And though Stallone has talked about a "Rambo V," there's been little movement on it in the last few years.